When you think of Artificial Intelligence you no doubt conjure up ideas of self-driving cars, robots, and science fiction. With this in mind, AI and finance may seem strange bedfellows, but the truth about AI is less Hollywood and more Wall Street. Today, Artificial Intelligence is employed across the financial services and banking sector in use cases ranging from customer service to performance reporting, compliance reporting, and more. While the majority of these use cases are based on automating report writing, there has been a notable growth in use cases focusing on customer experience.

Based on our experience working with some of the largest banks and financial institutions in the world, we put together a white paper to help in the process of choosing your first use case. Ultimately, the use case and business problem must always be the driving factor in choosing the right software for your needs. For example, do you need content in languages other than English? Do you need the flexibility of self-service and does security mean you need on-premise?

Automating for Better Customer Experience

One of the fastest growing use cases for Natural Language Generation technology is in the customer experience space. Smart Chatbots that are able to offer advice and guidance are a growing use case. But the most common use case today is as a CRM plug in. Essentially, NLG can write a memo before a salesperson takes a meeting. The software explains who you are meeting, the history with the client, what you need to know, what you need to sell, and with what sales pitch: all of this automatically. Some clients take this to the next step, using a software like Alexa to “read” the report written by NLG.

Just picture it, you are on a way to a meeting and you ask “Alexa what do I need to know” and the NLG software explains everything just like a personal assistant but using all the data you have on the customer. This is not science fiction, it’s the reality in many of the largest banks and insurance companies today.

Many customers begin by automating report writing before moving on to customer experience projects. Regardless, the key with Natural Language Generation (and really any software) is do your homework on the company, market, and on your use case.

Arden Manning

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Yseop is a global enterprise software company with offices in New York, London, Paris, Dallas, and Lyon. Its enterprise customers are mainly in the global Fortune 1000, and on a daily basis, 50,000 end users employ Yseop. Yseop has led the international technology scene and has quickly been recognised by artificial intelligence and business intelligence leaders thanks to its innovative solutions that translate data analysis into written insight.

Yseop has a unique, patented system, which is the only self-service software on the market that can reason and clearly express conclusions in multiple languages, in real-time. Yseop’s software turns data into narrative in English, French, German, and Spanish, all at the speed of thousands of pages per second.